I want to know if someone knows "USG CAPITAL" and "BLUE CAPITAL FX "
Are they FRAUD or SCAM companies ?
I have lost all my money due to a very bad account management from their side
Please your input,
I want to explain what happened.
I feel very stupid as I lost all my money one year ago and my account manager convinced me to invest again. But this time the trading was not done by myself , they convinced me to have a managed account (management done by Blue Capital FX). The acc manager said to me that the risk is 20 % and I agreed based on that statement. The problem is that I don't have any prove that He said so , it was verbally and not in a document like e-mail or so. They sent me the list of transactions of few years and also a report of the last 3 years of performance of the broker. In the report I saw profits of few % ( 3-5) each month and also losses of few % . Nothing drastic. Also I saw that the positions were opened in a moderate way (0.01 , max 0.1). So I agreed to try. After they started to trade I was shocked, the positions were opened much higher, many of them at once, for the same pair , without stop loss, and I called my acc manager to complain on the way the manager was trading. At that time I had already 10% loss in only one week . I gave the instructions that I agree to a risk of max 20 % and I was sure that He will follow the instruction. But for my surprise when the trade was restarted on Monday the account was already with almost 50 % loss. I called desesperatly my acc manager , He didn't answer me. Wrote to him several e-mail, didn't get any reply . Called the dealing desk to try to get him to call me back. I decided that I am requesting to withdraw some money in order not to loose all and due to lack of enough securities the trades were closed with almost 70 % loss of my investment.
I could not believe the situation, in only 2 weeks they made me lost 70 % of my money.
I am trying to talk to the acc manager , sending him sms' , e-mails , requesting from him to call me , nothing. He is not answering the phone and he is not calling me back neither answering to my e-mails.
I don't know what to do . I feel that they did everyting on purpose , they stole my money.
And in only 2 weeks or so , and trading done by an expert broker ????
Now I am reading in your forums that YouTradeFx is a scam, and reading the internet site of the USG CAPITAL site I understand that they are very well related. And even more they are related to the company You Trade Holdings Limited which seems to be also a Scam.
I will greatly appreciate that you will help me with this problem, what should I do ?
I am sure that I am not the only one that has lost his money with USG Capital, but I can't find anything in the internet regarding more investors complaining .
Please , your help will be greatly appreciated.
I don't know what to do .
I was convinced by USG Capital account Manager to invest. As I lost one year ago my money trading by myself He convinced me to invest with an "expert" broker managed account. The broker was Blue Capital FX. Before I agreed I requested to get reports of the broker performance and I received several files showing profits and losses of last 3 years where I could see each month small percentages ( 3- 5 % ). So nothing drastic. I was assured ( verbally , I don't have any document proving it ) that the risk is of 20 %. But now the account manager is not willing ( of course) to confess that He said so.
When the broker started to managed the investment I saw that He was opening big positions ( instead of the small ones I saw in the reports), He didn't fix stop loss , He was opening many positions one after the other and for the same pairs, a lot of positions at the same time . After few days my account was already lossing 10 % so I called my account manager and gave him the instructions that I don't want to go over 20 % loss. I was sure He will follow my instructions. That was on a Wenesday. But on Monday, when the market was reopened I saw that the acc was lossing already more than 20 %. I called the acc manager several times, wrote him several sms's , e-mails requesting from him to call me back. Nothing. Desesperatly I called the deal desk of USG capital and they told me that I can't to anything part from closing all the positions and disengaging from the managed account. I really didn't know what to do and as I saw that the losses are getting already very big I decide to withdraw part of the money. Just in order to decrease the money invested. As a result of the withdraw and as the acc losses increased even more the investment was closed due to lack of enough securities. I was shocked , I withdrawed only 30 % of the original investment. Meaning that I loose 70 % of my money. Of course far away from the 20% I agreed to risk. Since then I am trying to call the acc manager, He doesn't answer. I am writing e-mails, He is not replying. No possibility to contact him at all.
Now looking at Scam and fraude companies in your site I see that YouTradeFX is a Scam company and is related to USG Capital according to your posts. Also in the internet site of USG Capital is mentioned that the company is related to You Trade Holdings Limited that seems to be also a Scam company.
I don't know what to do. I will greatly appreciate your help.
I am searching in the internet and I don't see any complains about USG Capital but I am convinced that I am not the only one that lost his money with this company.
Please, tell me what to do .
I did not send yet an e-mail to them regarding that I am reporting my case in this forum.
Anyway they are not answering to my e-mails or phone calls.
First I waited to get the remaining of my investment as I didn't want to be left with 0 of my investment.
It took someting like a week , they made a reduction also to the money ( 30 usd ) I don't know why but it seems that it wasn't enoug for them all what I lost. And is a lot of money (at least for me)
I have opened a scam case in the trade court.
Do you think I really need to invite them to participate in the thread ?
I'm really sorry for your loss, and not to throw any blame here, but I have a question. Did it ever occur to you that if a person is a successful trader, he wouldn't even have time to manage your account, but he would be trading his own account and making money?